It can’t be denied that India Inc is amidst of talent crisis in spite of the fact that the wave of great resignation witnessed by west was not so grave in India except IT sector. The phenomenon of attrition or retention or talent crisis can be viewed from different angles. Many researches and studies have indicated the reasons of employees quitting their jobs in India which include stagnation, work life balance, toxic work culture, salary, flexible working and salary among others.
The factors of increased attrition reflect that there has been some gap in mutual understanding of employees and organisations. HR appears to have not been able to read the writing on the walls before time to address the challenge of increased attrition. Is it simple quitting, or switching off to new opportunity or attraction to new job or better work culture or seeing career path or mere re-shuffling? This has to be assessed and identified by HR professionals.
When we use term ‘crisis’, it means scarcity of particular thing in open market. Scarcity emerges when there is demand supply gap and we simply look to acquire from the available pool and not make attempts to think out of box to resolve the problem. We don’t explore alternatives and hesitate in investing in them. We hardly as HR professionals make courage to go for raw talent and invest in harnessing and polishing them. It may be costly and time consuming and difficult too. Very few pitches for investing in skilling, re skilling and up skilling of available talent in organisations. We do not have risk taking ability in terms of employing nascent talent. We all prefer and look for “Best”, “Proved”, “Experienced”, “Ready to take from the day first” and so on. On one side we don’t employ effective measures to retain the existing talent at right moment and on the other side, we do huge exercise in searching needles in haystack. Why not to work on innovative methods of first getting the average one and not going for best and then nurturing and molding them to make best for your own organization. Now the talent retention strategies demand huge customization. Policies have to be replaced by guidelines. Organisations have to sell them to attract and retain the persons as to why they can be best for them. We have a big pool of unemployed youth. Why not to look at that and design some innovative strategies to make a win win situation?
Adoption of technology at all levels in organisations at very fast space has also left HR professionals in between to cope up with the increased demand of required skills. It is not the time to train and hire but to hire and train. Investing in human capital will be the key to overcome the Talent Crisis.
HR professionals with diversified experience have shared their perspective on the issue of Talent Crisis in this edition cover story and how industry should keep its talent intact. They talk of strategies, challenges and way forward…
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